The confidence vote called by prime minister Alexis Tsipras following the withdrawal from office of the Independent Greeks party, will now take place on Wednesday afternoon.

The uncertainty has caused shares on the Athens stock market to fall, amid investor fears that the uncertainty could lead to early elections, reports our correspondent Helena Smith in Athens.

Bank shares dropped 3.8% this morning as investors digested the spectre of renewed political instability in the euro zone’s most fragile member state.

Much will depend on how Tsipras “interprets” the vote which analysts believe he will win – if by a slim margin.

In true Trumpian style, the Independent Greeks leader Panos Kammenos resorted to Twitter this morning to expel two of his MPs, including Elena Kondoura, the tourism minister, from his party’s ranks after both confirmed that they will be backing Tsipras in the confidence vote- and the looming Macedonia name change deal which prompted the nationalist politician to withdraw from the leftist-led coalition.

“Mrs Kontoura, with an official announcement, decided to exchange her vote and the name Macedonia for the ministerial chair. I am expelling her from AN.EL’s parliamentary group,” the tweet read.

Greek government in crisis over Macedonia name deal

Alastair Neame, senior economist at the Centre for Economics and Business Research, says eurozone manufacturers are struggling as the global economy slows,

As a major exporter, the state of the global economy matters to Eurozone manufacturers. The trade dispute that erupted during the summer between the US and China has dragged down global trade growth and has spilled over into wider supply chains.

Although temporary factors like new emissions standards may be affecting car production, the rise of protectionism and uncertainty are likely to have a long lasting impact on the sector’s fortunes.“

OECD: Most major economies are slowing

Newsflash: The OECD thinktank has just warned that growth momentum is “easing” in most major economies.

In a new assessment of the world’s largest economies, the OECD says the biggest declines coming in France and Britain.

The OECD said its composite leading indicators, gauges of economic activity that are designed to anticipate turning points relative to past performance for between six to nine months ahead, also showed easing growth momentum in the US, Germany, Canada, Italy and the euro area as a whole.

The Paris-based thinktank says:

In the United States and Germany, the tentative signs of easing growth momentum, that were flagged in last month’s assessment, have been confirmed with easing growth momentum remaining the assessment for Canada, the United Kingdom and the euro area as a whole, including France and Italy.

Photograph: OECD

The OECD adds that Brazil appears to be slowing (after a period of growth) while China is now experiencing “stable growth momentum” (after a downturn).

Fears of a technical recession in large Eurozone economies are mounting as industrial production in November provided a harsh reality-check for economists.

The third quarter slowdown to just 0.2% GDP growth was expected to be followed by a bounce back in Q4, but the evidence is mounting that this is unlikely. Surveys have been dismal throughout the quarter, and actual production data is now confirming that bleak view on the Eurozone economy. Industrial production declined by -1.7% month-on-month in November and by -3.3% compared to November last year.

Consumption looks to have performed somewhat better, but concerns about a technical recession in Germany and Italy are nonetheless rising.

A “technical recession” is defined as two consecutive quarters of negative growth. Both Germany and Italy contracted in the third quarter of 2018 (by 0.2% and 0.1% respectively), so they’re halfway there already....